Refinance Scheme for Payment of Wages and SalariesRefinance Scheme for Payment of Wages and Salaries

Refinance Scheme for Payment of Wages and Salaries

Bank Alfalah offers State Bank of Pakistan’s Refinance Scheme to support businesses to continue payment of wages and salaries to their workers and employees in the aftermath of the COVID-19 outbreak.

The refinance scheme will ease cash flow constraints of employers for timely payment of wages and salaries to workers and employees.

Offer available to:

  • Existing payroll clients who also maintain a lending relationship with Bank Alfalah
  • Existing payroll clients who do not maintain a lending relationship with Bank Alfalah
  • Clients who maintain a lending relationship but are not availing payroll services with Bank Alfalah
  • Existing and potential clients who do not maintain either payroll or lending relationship with Bank Alfalah

Features of Refinance Facility:

Category Wage Bill for 3 months Loan Limit Maximum
Loan Limit
A Less than or equal to Rs. 500 million 100% of actual 3 months wage bill Rs. 500 M
B More than Rs. 500 million Rs. 500 million or 75% of 3
months wage bill, whichever
is higher
Rs. 1000 M
  • End-user markup rate: Up to 5%
  • Loan repayment: Starts from January 2021 after disbursement period of three months followed by maximum grace period of six months
  • Repayment of loan: Principal amount will be made in 8 equal quarterly installments
  • Validity of this facility: June 30, 2020

Apply for refinance to avail seamless and swift salary disbursement for your business!

To apply, please reach out to your respective branch/business unit. For further information, email us at BAW@bankalfalah.com / smesupport.covid19@bankalfalah.com

Availability of this line is subject to credit assessment and final approval


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